The Bottom Line
If you want lower fees and spreads, use Binance. However, if you want to trade without KYC, use KuCoin.
Both platforms look and feel very similar but Binance is significantly bigger when it comes to trading volume. Binance had $13.5 billion in trading volume, 600+ coins and 0.10% trading fees. KuCoin had 700+ coins, 0.10% trading fees and only $1.87 billion in trading volume.
Summary:
- Both platforms look very similar when it comes to user interface, security and features
- Both platforms have billions in daily trading volume, but Binance is substantially bigger
- KuCoin is easier to get started and lets you deposit, trade and withdraw crypto without KYC
- Binance supports 8 fiat wallets, KuCoin does not have any fiat wallets
Video published on Feb 1, 2022. Refer to the blog for most updated info.
About Binance
Binance is the largest crypto exchange in the world by trading volume, has 0.10% trading fees, 600+ coins, and dozens of features. It's best used for trading coins for low fees and spreads.
Pros & Cons
About KuCoin
KuCoin is almost exactly the same platform as Binance but with less trading volume. It has 500+ coins, 0.10% trading fees, billions in daily trading volume and dozens of features as well.
Pros & Cons
Overview
To collect this info, we used real, KYC-verified accounts. We then broke it down into 5 categories: Fees, Features, Deposit & Withdrawals, Security and Ease of Use.
RankFi tracks dozens of crypto products. Lean more about our methodology here.
Coins Offered | 600+ | 700+ |
Total Trading Volume (Apr 16, 22) | $13.5 billion | $1.87 billion |
BTC Spread (Apr 16, 22) | 0.00% | 0.00% |
Trading Fee | ✅ | 🚫 |
Fiat Wallets? | 0.10% or less | 0.10% or less |
KYC | ✅ | ✅ (optional) |
Beginner Friendly | ✅ (App Only) | 🚫 |
Advanced Trading | ✅ | ✅ |
BTC Withdrawal Fee | 0.0005 BTC | 0.0005 BTC |
Headquarters | Remote Company | Seychelles |
💰 Promotion | 10% off trading fees forever and up to $100 free | 10% off trading fees |
Sign Up |
📱 Features | ||
Best Features Overall | ✅ Winner | Cell |
Number of Features | 30+ | 20+ |
Coins | 600+ | 700+ |
Mobile App | ✅ | ✅ |
Web App | ✅ | ✅ |
Beginner Trading | ✅ (App only) | 🚫 |
Advanced Trading | ✅ | ✅ |
Staking | ✅ | ✅ |
Lending/Borrowing | ✅ | ✅ |
Other Rewards | ✅ | ✅ |
Crypto Credit Card | ✅ | 🚫 |
Margin Trading | ✅ | ✅ |
Futures | ✅ | ✅ |
OTC | ✅ | 🚫 |
Native Token | ✅ (BNB) | ✅ (KCS) |
Affiliate Program | ✅ | ✅ |
24/7 Support | ✅ | 🚫 |
Sign Up | ||
💰 Fees & SpreadBoth platforms were tested on Mar 16, 2022 at the same time and numbers are subject to change. | ||
Best Fees Overall | ✅ Winner | Cell |
24hr Trading Volume (Mar 16, 2022) | $13.50 Billion | $1.87 Billion |
Trading Fee | 0.10% or less | 0.10% or less |
Trading Fee Discounts? | ✅ | ✅ |
Spread (BTC) | 0.00% | 0.00% |
Ref. Price Difference | Buy: -0.12% Sell: -0.12% | Buy: -0.30% Sell: -0.30% |
BTC Buy Price (After Fees) | $41,212 | $41,135 |
BTC Sell Price (After Fees) | $41,212 | $41,135 |
Reference Price (Google) | $41,261 | $41,261 |
Sign Up | ||
🏦 Deposits & Withdrawals | ||
Best Overall | ✅ Winner | Cell |
Fiat Wallet Currencies | 8 (AUD, EUR, GBP, RUB, BRL, TRY, UAH, NGN) | 0 (not supported) |
Instant Buy Currencies | 40+ | 90+ |
Credit Card | ✅ | ✅ |
P2P Exchange | ✅ | ✅ |
Withdraw Fiat Currency | ✅ | 🚫 |
Fiat Withdrawal Limit (24hrs) | Verified: $50k Verified Plus: $200k | 🚫 |
Crypto Withdrawal Limit (24hrs) | 100 BTC | Unverified: 1 BTC Verified: 200 BTC |
BTC Withdrawal Fee | 0.0005 BTC | 0.0005 BTC |
ETH Withdrawal Fee | 0.00625 ETH | 0.00625 ETH |
USDT Withdrawal Fee | 35 USDT | ? |
🔒 Security | ||
Best Security Overall | ✅ Winner | Cell |
Year Founded | 2017 | 2017 |
Uses Cold Storage? | No Official Info | No Official Info |
Insurance Policy | ✅ (SAFU) | ✅ (Yes) |
Any Hacks or Incidents? | ✅ (2019) | ✅ (2020) |
2FA | ✅ | ✅ |
Address Whitelisting | ✅ | ✅ |
View Login History | ✅ | ✅ |
Crypto Withdrawals Allowed | ✅ | ✅ |
KYC | ✅ | ✅ (Optional) |
Publicly Traded | 🚫 | 🚫 |
Headquarters | Remote Company | Seychelles |
User Interface
Binance
KuCoin
Binance or KuCoin?
Both platforms are great choices and industry leaders. Binance is the better pick if you want a larger platform with more liquidity. KuCoin is better if you want to trade without KYC and have slightly more altcoins.
KuCoin and Binance both have 600+ coins, 0.10% trading fees, dozens of features, and billions in daily trading volume. However, Binance has significantly higher trading volume and more features overall. KuCoin is better if you want to trade without KYC.
Reasons To Use Binance
- Lower spreads and overall fees (Binance is the biggest exchange in the world for trading volume)
- 600+ cryptocurrencies and dozens of features like staking, derivatives, visa cards, loans, and more
- Binance supports 8 fiat wallet currencies with trading pairs (KuCoin has 0)
- Binance app has "Lite" mode which is beginner-friendly trading
Reasons to Use KuCoin
- Trade without KYC (it's easier to get started, all you need is an email) - You can deposit and trade crypto and withdraw up to 1 BTC every 24 hours
- Binance is restricted in some regions, KuCoin is available everywhere
- 500+ cryptocurrencies and dozens of features like trading bots, staking, derivatives, loans, and more
- Still has low fees and spreads relative to the rest of the industry (but it's smaller than Binance)
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